Credit, Collections & Insolvency News
Weekly wages have increased by just £16 in 14 years when inflation is factored in according to research from living-standards thinktank the Resolution Foundation. The research found that despite the welcome return of strong real wage growth in recent months, three shocks to pay packets in a little over a decade – the financial crisis,…
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New research from Premium Credit shows the cost of living crisis is increasing the tax bill pressure on SMEs with more than 430,000 firms currently struggling to pay money owed to HMRC. The study by the leading provider of finance for companies’ tax bills with SME owners and managers found nearly one in five (17%)…
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Customer service ratings across the energy industry are among the lowest ever and are showing no signs of improving according to Citizens Advice. The Chrarity, which tracks customer satisfaction levels through its star ratings, claims that the only way to improve the situation is by implementing a consumer duty into Ofgem’s framework of regulatory requirements.…
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The cost of car insurance has risen by 18% year on year, according to new research from Compare the Market. The typical premium stood at £850 in May 2024 after rising by £132 over the previous 12 months. The increase in the cost of car insurance in the past year may in part be due…
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Target Group has announced it has appointed Melanie Spencer as Growth and Sales Lead. Spencer has joined the company to expand Target’s sales and reputation amongst the lender community, particularly with regards to Mortgage Hub. She is a well-known professional in the industry, having been in the mortgage market for over 20 years. Over this…
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A new study by Juniper Research has found the value of contactless payment transactions will grow by 113% over the next five years, from $7.4 trillion in 2024. The new research, featuring comprehensive market sizing and forecasts for both contactless payments and digital ticketing, found greater contactless payment availability for smaller businesses with Soft POS…
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A new first-time buyer study from the UK’s biggest property website Rightmove reveals that the average first-time buyer mortgage payment has risen by 61% since the last election year of 2019. Over the last five years, the average mortgage payment for a typical first-time buyer home has risen from £667 per month to £1,075 per…
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